Both banks recently denied media reports of any merger.
Mr Uzoma Dozie, the bank’s Chief Executive Officer, said in Lagos the board had selected Access Bank as the preferred bidder with respect to a potential merger of both banks. Dozie said the potential merger of the two banks would create Nigeria and Africa’s largest retail bank by customers.
He added that the transaction to be completed in the first half of 2019 was in the best interest of all stakeholders. Dozie said the completion of the merger was subject to certain shareholder and regulatory approvals.
He said the bank’s shares would be absorbed into Access Bank at the completion of the merger and Diamond Bank would cease to exist under Nigerian law.
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Awww diamond bank. Love their app
ReplyDeleteThe best mobile banking app
DeleteDamn....access bank winning
ReplyDeleteNothing should sha happen to the business funds I have with Diamond. I have worked too hard to retain that Money.
ReplyDeleteBetter transfer the fund now that you have an opportunity do so. Most Naija mergers get K-leg
DeleteWow!! Access Bank is strong oh. Only them took over Intercontinental bank like eight years back, now they be taking over Diamond.. is s
ReplyDeleteA whole Diamond Bank has gone under. Someone said it here the time Polaris bought over Skye bank that Diamond Bank was next. I knew something was wrong when they started selling off their foreign units. Biko which one is next make I know where I wan carry my money de go. I no fit shout.
ReplyDeleteFidelity.
Delete20:13 Fidelity bank is underrated. You will be surprised when Fidelity buy Zenith and GTbank.
Delete"The one customer Bank"
DeleteZenith ke, maybe gtb ( mai ruwa bank) but definitely not zenith
DeleteSky do you even know what you saying? How can you ever think fidelity can buy Zenith? As how naa,better wake up from that dream of yours
DeleteSome anonymous BVs dropped the tea a while back.
ReplyDeleteO setigo, diamond with its wahala
ReplyDeleteMake dem no sack staff ohh
Those that fuck manager for position, sorry be their name
DeleteAccess bank--Small bank, big God
ReplyDeleteAs in ehhhhhh
DeleteThey will sack staff. All these grammar dem dey speak say na merger.
ReplyDeleteEayah diamond staff some of you should start looking for another job.
It is well with una. Just enjoy the Christmas before sacking next year
What will happen to their current staffs? Gope they will all be retained ooo?
ReplyDeleteYes they will retain some of their real staff but the contract staff fate is OYO.
DeleteSome staff will be forced to resign. They will set big targets for them and also close some branches.
ReplyDeleteDiamond bank, my favorite bank. The most user friendly app
ReplyDeleteshould I start panicking
ReplyDeleteNo wait first.
DeleteWow! I pity the staff working there now. I pray there should not be massive sack. I thought diamond is a strong back. This accessbank sef. They look small but Mighty. They have good management unlike their counter part. It is well with the staff's. I have a lot of friends there.
ReplyDeleteSo it's true. Nawa o. Diamond bank dead and buried? That's so sad. I never liked that bank but because of company salary, I was forced to open an account there.
ReplyDeleteJesus Christ!!!!
ReplyDeleteEiyah.
ReplyDeleteNothing should Sha happen to my Gtbank ooo..
ReplyDeleteI no fit shout mbok.. I no wan hear shoot bird mama fly.
Eyah. When it comes to merger and acquisition some staff will be laid off.
ReplyDeleteSo na so I no win the salary for life abi
Nigeria Banks are fragile just surviving under political stronghold. Every financial corruption trading in Nigeria is rooted in the banks. Just one government financial policy they all begin to stagger.
ReplyDeleteHa! What will happen to salary for life??
ReplyDeleteAccess bank is a shitty bank anyways, extremely poor customer relations.
True about the customer service at access. They will so make the real diamond customers to flee. Access is the bank with the most uncouth workers, from top to bottom.
DeleteBiko talk about the branch you visited, and not make it the whole Access bank cause up to now m yet to have a problem with them
DeleteNawaoo
ReplyDeleteUzoma Dozie finally killed that bank. After Alex Otti's hardwork of resuscitating, rebranding and repositioning that bank to #5. Uzoma under a year of becoming MD scattered all that. I pity Pascal Dozie whose life investment has gone under just because of his son's bad decision and extremely poor managerial skill, couldnt post profit for a single year. It's so sad. What is access bank some three years ago compared to Diamond if not for extremely poor management. Moral lesson, parents your children mustn't run your businesses if they lack experience.
ReplyDeleteThis is exactly what we were discussing in our home. Pascal Dozie's son ruined the bank. Parents should not be too quick to handover business to their children.
Deletesorry to burst your bubbles but erhmm it was Alex Otti that destroyed that bank, he even tried a secret acquistition in 2014 through a foreign bank.
DeleteMy dear he didnt try at all.
DeleteMay God not give us children that will ruin our hard work.
Otti accuses Dozie Jnr. Dozie Jnr accuses Otti. Accusations and counter accusations.
DeleteWhich bank is d strongest now,so I can move my small money there.yes I know depositor funds are "safe".but it's better to b safe than sorry.GT,uba,first n zenith which is better
ReplyDeleteI think First bank is very strong
DeleteFamily banks are never good. The family members at the top tend to destroy it and the top positions are reserved for family members. FCMB is like the last family bank standing.
ReplyDeleteAbeg,I hope my money is safe...do I go and withdraw them all? I no fit shout ooo
ReplyDeleteDon't waste time to go and redraw all your money
DeleteDiamond bank going down too..nawah!
DeleteI hope it doesn't affect their staffs o
ReplyDeletemy atm works there. Chai I've been thinking about this since early morning when I heard the news to think that he promised to give me money to start a biz
See shamelesssness, calling another human being atm. It is the same way you will also be an atm to other people. Meanwhile, it is STAFF, there is nothing like staffs.
DeleteEcobank shld be the next. Bank that will make you stranded on top your money o. Ive always thought diamond Bank is a strong bank😲 unbelievable
ReplyDeleteNawaoo......this is serious.
ReplyDeleteDiamond bank issues was worst than skyebank but they were able to manage their PR. In the next 5 years or more Banks in Nigeria will be less than 8.
ReplyDeleteNever knew diamond Bank will crumble like this, thought they were strong
ReplyDeleteHei na my salary account oo, wetin I go do make my salary no go hang or govt chop my money o
ReplyDelete